The US can also face economic turmoil if more banks face collapse, about a of the sector’s main cash managers win warned.
The warning followed the failure of First Republic, the 2nd-biggest banking failure in US history, and the third financial institution to atomize down in the country since March.
JP Morgan High-tail took over First Republic in a deal brokered by regulators – nonetheless there is a warning that the US can also face a credit rating crunch and an economic slowdown, and at a significant time, if one more financial institution fails.
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